NZDUSD Analysis Oct 24, 2021
We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe we can clearly see that last ended with a lot of selling pressure as we are retesting a significant level of resistance. I will look to the lower timeframe to see whether we are ready to go short on this pair.
On the H4 timeframe we basically have two different potential outcomes. If price manages to continue lower we will see a retest of the current area that it is at. If price finds support at the current level which it very well could then we will see new highs.
On the weekly timeframe we can clearly see that last ended with a lot of selling pressure as we are retesting a significant level of resistance. I will look to the lower timeframe to see whether we are ready to go short on this pair.
On the H4 timeframe we basically have two different potential outcomes. If price manages to continue lower we will see a retest of the current area that it is at. If price finds support at the current level which it very well could then we will see new highs.